AeroVironment amends lease, expands Moorpark premises, extends term to March 2027

AeroVironment Inc

Second Amendment expands premises and extends lease through March 31, 2027.
Base monthly rent: $125,150.74 (first 12 months), $128,073.76 (months 13-24), $131,065.75 (months 25-40).
AeroVironment becomes sole tenant responsible for 100% of building operating expenses.
Option to extend lease for one 48-month period and one 60-month period at fair market rental value (min. 104% of preceding rent).
Amendment effective November 2, 2022; commences January 1, 2024.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

AeroVironment Inc amended Second Amendment to Lease with Princeton Avenue Holdings, LLC and Princeton Avenue Holdings II, LLC valued at Base monthly rent starts at $125,150.74 for first 12 months, then $128,073.76 for months 13-24, then (effective 2022-11-02).

Action: amendment
Agreement: lease
Counterparty: Princeton Avenue Holdings, LLC and Princeton Avenue Holdings II, LLC
Value: Base monthly rent starts at $125,150.74 for first 12 months, then $128,073.76 for months 13-24, then
Effective: 2022-11-02

Exact text from the filing

On November 3, 2022, AeroVironment, Inc. (“AeroVironment”) entered into a Second Amendment to Lease (the “Second Amendment”) with an effective date of November 2, 2022, to amend its existing lease (the “Lease”) with Princeton Avenue Holdings, LLC (the “Original Landlord”) to now include Princeton Avenue Holdings II, LLC (“Princeton II, collectively with the Original Landlord, as tenants in common, “Landlord”) for certain premises located at 14501 Princeton Avenue, Moorpark, CA 93021.

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Source: SEC EDGAR

accession 0001104659-22-116143

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